SEC head urged the US Congress to develop rules for the operation of crypto exchanges

According to Gary Gensler, this needs to be done to eliminate gaps in the regulation of cryptocurrencies interritory of the country.

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Head of the Securities and Exchange Commission (SEC)Gary Gensler, during a hearing in the US House of Representatives, called for the development of a regulatory framework for the functioning of cryptocurrency exchanges. In his opinion, this must be done to regulate the work with digital assets in the United States.

“We could work with Congress to try to protect investors where these - sometimes commodities, sometimes securities - are traded,” the official said.

In early May, Gary Gensler already pointed outthe lack of rules for the operation of cryptocurrency exchanges as the biggest gap in the regulation of cryptocurrencies in the United States. Then the head of the SEC said that the crypto market will only benefit from the fact that the authorities will create additional measures to protect investors.

Formerly Department of Justice and Internal Revenue ServiceThe United States initiated an investigation into the world's largest cryptocurrency exchange Binance. State authorities conduct inspections for violations in the field of combating money laundering and tax laws. So far, no charges have been leveled against the site.

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